Quad-C pros form new firm

Three top professionals who split in January from LBO shop Quad-C Management resurfaced last week with their own firm.

Their new firm is called Dominus Capital, and it’s led by Gary Binning, Bob Haswell and Ashish Rughwani. The three comprised the New York investment team of Quad-C Management, the middle-market specialist based in Charlottesville, Va.

Last month, when the three left, Quad-C Management said that they were leaving “to pursue their own separate opportunities.”

Binning had implied that the trio wouldn’t reunite to form an independent firm.

However, the new firm is currently camping out in the New York offices of law firm White & Case, and the LBO shop has launched a website.

Last week, the partners issued an e-mail message announcing the firm’s formation and spelling out its investment approach. They will not stray far from the Quad-C Management formula.

“Dominus Capital will seek to invest in leading middle market companies in partnership with management in a variety of industries with a particular focus on the business services, general industrial and consumer products sectors,” the email said. “Drawing on the experience, knowledge and network of its founders and a team of in-house operating executives, Dominus will look to create value at its portfolio companies by primarily focusing on operational improvements.”

The new partners could not be reached as of press time. Their fund-raising plans are also unclear.